Novartis AG $NVS Shares Purchased by Forum Financial Management LP

Forum Financial Management LP boosted its stake in shares of Novartis AG (NYSE:NVS) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,607 shares of the company’s stock after buying an additional 88 shares during the period. Forum Financial Management LP’s holdings in Novartis were worth $2,978,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GFG Capital LLC acquired a new position in Novartis during the second quarter worth $26,000. WPG Advisers LLC acquired a new position in shares of Novartis in the 1st quarter valued at $25,000. Tsfg LLC lifted its stake in shares of Novartis by 366.0% in the 1st quarter. Tsfg LLC now owns 233 shares of the company’s stock valued at $26,000 after purchasing an additional 183 shares during the last quarter. Barrett & Company Inc. acquired a new position in shares of Novartis in the 2nd quarter valued at $31,000. Finally, MCF Advisors LLC lifted its stake in shares of Novartis by 66.0% in the 2nd quarter. MCF Advisors LLC now owns 264 shares of the company’s stock valued at $32,000 after purchasing an additional 105 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Novartis Stock Down 0.0%

Shares of NYSE NVS opened at $131.34 on Thursday. The stock has a market cap of $277.44 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64. The company has a quick ratio of 0.62, a current ratio of 0.82 and a debt-to-equity ratio of 0.53. Novartis AG has a 52-week low of $96.06 and a 52-week high of $133.55. The business has a 50-day moving average price of $127.24 and a 200 day moving average price of $118.97.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $118.00 price target (down previously from $119.00) on shares of Novartis in a research note on Friday, September 12th. Morgan Stanley raised Novartis from an “underweight” rating to an “equal weight” rating and set a $123.00 price target on the stock in a research note on Friday, August 8th. Wall Street Zen raised Novartis from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Novartis in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Novartis in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $120.33.

Novartis Profile

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.